News is popping up about multiple banks and other financial institutions backing out of ESG groups. This is good news… or is it? On a recent episode of The JD Rucker Show, we discussed how they’re not really making changes. They’re just rebranding ESG. Here’s the clip and one of the stories we discussed…
BlackRock Exits Climate Activist Group After Pressure From Republicans
BlackRock announced this week that it was leaving a major climate activist group after Republicans criticized its involvement with the group.
The company said in a letter that it would be leaving the Net Zero Asset Managers (NZAM) initiative, an organization of asset managers committed to “supporting the goal of net zero greenhouse gas emissions by 2050 or sooner.” At one point, NZAM boasted its members controlled over $57 trillion in assets.
BlackRock’s announcement comes after 11 Republican attorneys general, led by Texas AG Ken Paxton, filed a lawsuit in November against the asset manager over its involvement with groups like NZAM. Texas’ lawsuit accused BlackRock of violating antitrust laws by allegedly engaging in a conspiracy with other asset managers to constrict the market for coal. BlackRock has denied the allegations and said the suit is without merit.
BlackRock’s letter, first obtained by Bloomberg, acknowledged that its involvement with NZAM “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials.” […]
— Read More: www.dailywire.com
